Rexford Industrial Realty achieved $113 million in net income in the second quarter, reflecting a 42 percent increase compared to the previous year. The company's revenues grew as well, supported by a resilient business model in a dynamic market. Co-CEOs highlighted key factors driving growth, including supply and demand dynamics in Southern California and robust management. The firm executed 99 leases totaling 1.7 million square feet and completed property sales totaling approximately $82 million while maintaining a 96 percent occupancy rate, despite some demand pressures from macroeconomic uncertainties.
Rexford Industrial Realty reported $113 million in net income in the second quarter, reflecting a 42 percent increase year-over-year, attributed to the resiliency of their business model.
Co-Chief Executives Micheal Frankel and Howard Schwimmer emphasized that the firm's long-term, superior supply and demand drivers within Southern California are delivering growing value to stakeholders.
Rexford executed 99 new and renewal leases totaling 1.7 million square feet and sold two properties for approximately $82 million, maintaining a portfolio occupancy rate of 96 percent.
COO Laura Clark noted that while leasing activity remains steady, macroeconomic and tariff uncertainty are impacting tenant decision making, creating pressure on demand, rent levels, and lease timing.
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